DominicWalsh

#AUDNZD: Classic Structure-Based TradeAUDNZD reached a wide horizontal demand area.The price formed a double top on that.Its neckline has just been broken.I expect a pullback to 1.101 / 1.102

#EURJPY: Important Breakout EURJPY finally broke and closed above a major horizontal resistance cluster on a daily. The broken structure turned into a key support now. I will expect a bullish continuation to 145.0 / 146.3 levels.

#EURUSD: Waiting For a Breakout After a strong bearish movement, the pair is consolidating within a narrow horizontal trading range. 1.065 - 1.068 is its support. I am waiting for its breakout (daily candle close below) to be short. The pair will most likely drop then. The goal will be 1.053

MarketBreakdown | Dollar Index, GBPUSD, USDCAD, EURNZD Here are the updates & outlook for multiple instruments in my watchlist. 1️⃣ Dollar Index (#DXY) daily time frame The market is consolidating within a narrow horizontal trading range. Taking into consideration that the index is very bullish from the beginning of February, I believe that a bullish rally will continue. Wait for a bullish breakout of the resistance of the range, daily candle close above that will most likely trigger a bullish continuation. 2️⃣ #GBPUSD daily time frame The pair was rejected heavily from a key daily structure resistance. A rejection candle with a long wick was formed. It indicates an intense bearish pressure. I believe that the pair will most likely keep falling. 3️⃣ #USDCAD daily time frame The market is trading within a wide horizontal trading range. Its support was reached yesterday, and the market was rejected from that. Probabilities are high that a resistance of the range will be reached soon. 4️⃣ #EURNZD daily time frame The price is forming a substantial ascending triangle formation. A bullish breakout of its resistance will initiate a solid bullish wave. Wait for a daily candle close above the neckline as a confirmation.

#USDJPY: Will We Go Higher? Update for USDJPY. Earlier, we spotted a confirmed breakout of a falling parallel channel on a daily. The price has nicely respected the underlined blue zone we considered the buy zone. The price bounced from that and set a new local higher-high higher close. I will expect a further bullish continuation. Next resistance - 134.5

GOLD (#XAUUSD): Detailed Structure Analysis Here are the important key levels to watch on Gold. Resistance 1: Major broken trend line Resistance 2: 1897 - 1904 area Resistance 3: 1946 - 1959 area Support 1: 1817 - 1832 area Support 2: 1765 - 1777 area The market remains relatively weak. It looks like the market may retest the broken trend line. Watch carefully!

Here is my latest structure analysis for ⚠️NZDUSD.Resistance 1: 0.6412 - 0.644 areaResistance 2: 0.6505 - 0.6538 areaSupport 1: 0.619 - 0.6226 areaSupport 2: 0.6155 - 0.6165 areaSupport 3: 0.606 - 0.6095 areaConsider these structures for pullback/breakout trading.

GBPCAD is taking off from a key horizontal support. The price has formed a bullish engulfing candle on 4h, approaching that structure. A double bottom on an hourly time frame was formed. I expect a pullback to: 1.618 / 1.622

USDCAD is trading within a wide horizontal trading range on a daily. Approaching its resistance, the price formed a triple-top pattern. Its neckline was broken on Friday. I expect a bearish move to 1.328 now.

#GBPNZD: Bearish Move From Key Level 🔻GBPNZD reached an important supply cluster last week. The price formed a double top pattern on an hourly time frame approaching that. I expect a bearish continuation to 1.903

Gold (#XAUUSD): Bearish Outlook For This Week Explained An important thing happened on 🔻Gold this week. After a strong bearish movement, the price reached a major rising trend line. The price was coiling on that since Monday. On Thursday, it was broken, though. The price closed below that, forming a bearish engulfing candle. I believe that the market may keep falling next week. Next support on focus is 1817 - 1833 area.

EURUSD is moving into a correction phase. The price rests against the conditional support at 1.065 and forms a bearish flag. This pattern shows us the potential to revive the fall further.The price tests the support zone of 1.07116 in a bearish flag format. A breakdown of the support of the local range may lead to liquidating the buying liquidity and activating the momentum for a strong bearish impulse.However, I expect in the near term an exit of the price from the range downwards, a breakdown of the support of 1.07116, and price movement towards 1.065, and then to 1.0430Bear Flag Pattern

#AUDCAD: Bearish Outlook Explained 🔻AUDCAD looks very bearish: the price has broken 2 rising trend lines on a daily, formed a double top and broke its neckline as well. The price is retesting the confluence zone based on the broken structures. Probabilities are high that the pair will drop soon. Goals: 0.924 / 0.916

Gold (#XAUUSD): That Was a Breakout 🟡 So it turned out that 🔻Gold broke a major rising trend line yesterday. The market has successfully closed below that on a daily engulfing the last 3 bullish candles. That violation may push the price lower. Next support: 1833

Here is my latest structure analysis for WTI Crude Oil. Support 1: 72.3 - 73.2 area Support 2: 70.0 - 71.4 area Resistance 1: 81.7 - 85.2 wide supply area Consider these structures for pullback/breakout trading.

USDJPY is testing a key horizontal demand zone on 4H. The price formed a double bottom pattern on that and broke its neckline then. I expect a bullish movement to 132.7

EURCAD was consolidating for 3 weeks in a wide horizontal trading range on a daily. Its support was finally broken this week. I believe that the pair may go lower now. Next support - 1.428